Starboard urges Knife River review as Oppenheimer backs Knife River stock

Published on 10/06/2026 at 01:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Knife River reported USD 938.59 million revenue in Q2 2026, up 12.60 percent. Nine analysts rate Knife River stock Hold.

KNF, US4988941047, Illustration mit AI erstellt.

Starboard Value urged Knife River Corporation (US4988941047) to evaluate strategic alternatives on September 24, 2026, while Oppenheimer maintained an Outperform rating for Knife River stock. The company reported USD 938.59 million in second-quarter 2026 revenue, up 12.60 percent year over year, but adjusted earnings per share of USD 0.77 missed the USD 1.13 consensus estimate, according to MarketBeat.

Activist pressure meets target cuts

According to finanzen.at on September 24, 2026, Starboard disclosed a position in Knife River and sent management a letter calling for the board to consider strategic alternatives, including a possible sale. The report said Knife River stock closed 3.80 percent higher that day.

MarketScreener reported on September 24, 2026, that Oppenheimer cut its Knife River price target from USD 90.00 to USD 80.00 while maintaining an Outperform rating. The target reduction adds a valuation counterweight to the activist discussion.

Revenue growth and guidance

Knife River raised its full-year 2026 revenue guidance to USD 3.4 billion to USD 3.6 billion and kept adjusted EBITDA guidance at USD 520 million to USD 560 million, according to Scanx. The second-quarter revenue increase therefore came with a wider gap between operating growth and earnings expectations.

The investor-relations presentation published September 23, 2026, identified second-quarter headwinds from delayed jobs, fewer public bid lettings and higher fuel costs. It also projected second-half 2026 contracting-services margins of 9.00 percent to 10.00 percent and cited USD 24 million of adjusted EBITDA effects from market dynamics, delayed jobs and fuel costs.

NYSE quote below yearly high

Knife River was last at USD 51.97 on the NYSE on October 5, 2026 at 4:00 p.m. ET, with a market capitalization of USD 2.9 billion. The quote stood 46.02 percent below its 52-week high of USD 96.28 and 5.72 percent above its 52-week low of USD 49.16.